A 股简称：招商银行 A 股代码：600036 公告编号：2025-057 招商银行股份有限公司 关于招银金融资产投资有限公司获准开业的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 招商银行股份有限公司（简称本公司）收到《国家金融监督管理 总局关于招银金融资产投资有限公司开业的批复》（金复〔2025〕667 号）。根据上述批复，本公司筹建的招银金融资产投资有限公司获准 开业，本公司将按照有关规定和程序前往市场监督管理部门办理工商 注册登记手续，领取企业法人营业执照，并在所有工作准备就绪后依 照有关规定完成招银金融资产投资有限公司的开业工作。 招银金融资产投资有限公司注册资本为人民币 150 亿元，为本公 司全资子公司。设立招银金融资产投资有限公司后，本公司将通过专 业化开展市场化债转股业务，深化产融协同与集团协同，服务实体经 济；同时积极开展股权投资试点业务，赋能科技创新，进一步提升本 公司综合化经营能力，全面推动高质量发展。 特此公告。 招商银行股份有限公司董事会 2025年11月23日 ...

Core Points - Hainan Development Holdings Co., Ltd. and China Merchants Bank signed a strategic cooperation agreement to enhance resource synergy and business collaboration, supporting the high-quality development of Hainan Free Trade Port [1] - Hainan Development Holdings has been actively seizing opportunities from the construction of Hainan Free Trade Port, achieving record highs in key operational indicators and entering a phase of healthy and rapid growth [1] - The strategic partnership aims to explore new paths for cooperation between banks and enterprises, leveraging the development opportunities presented by Hainan Free Trade Port [1] Company Overview - China Merchants Bank is the first shareholding commercial bank in China fully owned by corporate legal persons, with 143 branches and 1,800 sub-branches in China as of June 2025, covering over 130 cities domestically and having 6 branches and 1 representative office overseas [2] - The bank holds various financial licenses, including commercial banking, financial leasing, fund management, life insurance, overseas investment banking, consumer finance, and wealth management subsidiaries [2]

Core Viewpoint - China Merchants Bank has received approval to establish a financial asset investment company, marking a significant step in the expansion of its services to the real economy and the financial supply-side structural reform [1][2]. Group 1: Company Developments - China Merchants Bank's financial asset investment company, named "Zhaoyin Financial Investment," has a registered capital of 15 billion yuan, exceeding that of its peers, indicating the bank's commitment to this business [3]. - The establishment of Zhaoyin Financial Investment aligns with China Merchants Bank's "light bank" strategy, focusing on low-capital consumption and high-value return non-interest businesses [3]. - The company aims to provide integrated financial solutions by combining debt and equity services, enhancing its role from a traditional creditor to a comprehensive financial service provider [3]. Group 2: Industry Context - The approval for financial asset investment companies for joint-stock banks represents a fundamental shift in the market, expanding the number of participants from five state-owned banks to include three major joint-stock banks [2]. - The market for market-oriented debt-to-equity swaps is expected to grow, driven by the need for companies to optimize capital structures and reduce leverage, creating ample opportunities for financial asset investment companies [5]. - The establishment of these companies is anticipated to redirect financial resources towards high-tech and high-value-added sectors, promoting a positive cycle between technology, industry, and finance [5].

Core Viewpoint - China Merchants Bank's subsidiary, AIC, has officially been approved to commence operations after nearly five months of preparation, marking a significant development in the financial asset investment sector [1][6]. Group 1: Company Establishment and Structure - China Merchants Bank has received formal approval from the National Financial Regulatory Administration for its wholly-owned subsidiary, China Merchants Financial Asset Investment Co., Ltd., to begin operations [1]. - The registered capital of the new AIC is 15 billion RMB, making it the highest initial registered capital among financial asset investment companies in China [6]. - The company will be located in the China Merchants Bank headquarters building in Shenzhen, with plans for the headquarters to move to a new location in the Shenzhen Bay Super Headquarters Base [1]. Group 2: Management and Personnel - The board of directors for the new AIC has been established, with key personnel including Lei Caihua as Chairman and legal representative, who is also the Vice President of China Merchants Bank [1][2]. - Other board members include senior executives from various departments of China Merchants Bank, indicating a strong internal leadership structure [2]. Group 3: Market Context and Future Plans - The establishment of AIC aligns with national policies aimed at expanding the role of financial asset investment companies in supporting technological innovation and economic development [7]. - Other banks, including Industrial Bank and CITIC Bank, have also established their AICs, indicating a growing trend among commercial banks to engage in financial asset investment [6][7]. - Analysts suggest that the benefits of AICs extend beyond direct equity investment profits, potentially enhancing overall banking revenues through increased deposits, loans, and intermediary services from technology clients [8].

Core Viewpoint - China Merchants Bank's wholly-owned subsidiary, China Merchants Financial Investment, has been approved to commence operations with a registered capital of 15 billion RMB [1][6]. Group 1: Company Establishment - The establishment of China Merchants Financial Investment was a smooth process, taking just over six months from board approval to operational approval [4]. - The registered capital of 15 billion RMB makes it the highest initial registered capital for a financial asset investment company at its inception [6]. Group 2: Business Direction - Following its approval, China Merchants Financial Investment will focus on market-oriented debt-to-equity swap business, enhancing synergy between production and finance, and serving the real economy [7]. - The company aims to support technological innovation and promote high-quality development by engaging in equity investment pilot projects [7]. Group 3: Industry Context - The approval of China Merchants Financial Investment aligns with a broader trend where financial asset investment companies (AICs) are expanding their roles in supporting technology innovation and private enterprises [9][10]. - Recent regulatory changes have allowed AICs to broaden their equity investment pilot programs, increasing the number of commercial banks and insurance funds eligible to participate [9].

Core Viewpoint - China Merchants Bank's wholly-owned subsidiary, China Merchants Financial Investment, has been approved to commence operations with a registered capital of 15 billion RMB [1][4]. Group 1: Company Establishment - The establishment of China Merchants Financial Investment was a smooth process, taking just over six months from board approval to operational approval [4]. - The registered capital of 15 billion RMB makes it the highest initial registered capital for a financial asset investment company at its inception [4]. Group 2: Business Development Direction - After commencing operations, China Merchants Financial Investment will focus on market-oriented debt-to-equity swap business, enhancing synergy between industry and finance, and serving the real economy [5]. - The company aims to support technological innovation and improve the bank's comprehensive operational capabilities, promoting high-quality development [5]. - It will concentrate on key areas such as technological innovation, green low-carbon initiatives, and advanced manufacturing, leveraging long-term and patient capital to assist enterprises in reducing leverage and facilitating transformation [5][6]. Group 3: Industry Context - The approval of China Merchants Financial Investment aligns with a broader trend of expanding financial asset investment companies (AICs) in China, with several banks recently receiving approval to establish similar entities [7]. - Recent policies have been favorable for the development of AICs, positioning them as significant "patient capital" in the technology finance market [8].

Core Viewpoint - China Merchants Bank's wholly-owned subsidiary, China Merchants Financial Investment, has been approved to commence operations with a registered capital of 15 billion RMB, marking a significant step in the expansion of financial asset investment companies (AIC) in China [1][5][7]. Group 1: Company Establishment and Approval - The establishment of China Merchants Financial Investment was a smooth process, taking just over six months from board approval to receiving the operating license [5]. - The registered capital of 15 billion RMB makes it the highest initial capital amount for a financial asset investment company at its inception [7]. - The approval from the National Financial Supervision Administration aligns with China Merchants Bank's strategy to enhance its comprehensive operational capabilities and support the real economy [5][9]. Group 2: Business Development Focus - Post-establishment, China Merchants Financial Investment will focus on market-oriented debt-to-equity swap business, enhancing synergy between production and finance, and supporting the real economy [9]. - The company aims to engage in equity investment pilot projects, particularly in technology innovation, to bolster its comprehensive operational capabilities and promote high-quality development [9]. - The investment strategy will emphasize intelligent, green, and integrated approaches, targeting key sectors such as technology innovation, green low-carbon initiatives, and advanced manufacturing [9]. Group 3: Industry Context and Expansion - The recent expansion of AICs is supported by favorable policies, allowing more commercial banks and insurance funds to participate in equity investment [12]. - Other banks, including Industrial Bank and CITIC Bank, have also received approvals to establish their AICs, indicating a growing trend in the sector [13]. - The increasing number of AICs is expected to foster differentiated investment strategies and enhance capital efficiency within the market [13][14].

招商银行于11月21日晚间发布公告称，已收到国家金融监督管理总局正式批复，其筹建的招银金融资产投资有限公司获准开业后，高管团队随即曝光。 上证报中国证券网讯（记者 徐潇潇）招商银行于11月21日晚间发布公告称，已收到国家金融监督管理总局正式批复，其筹建的招银金融资产投资有限公司 （简称"招银金融投资"）获准开业后，高管团队随即曝光。 据企查查官网显示，招银金融投资的核心管理团队已初步组建，该公司董事长由招商银行副行长雷财华担任，总经理为招商银行投资银行部总经理郑新盈； 董事包括李翀、齐向昱和李俐，三人均为招商银行相关部门负责人。 ...

Core Viewpoint - China Merchants Bank has received official approval from the National Financial Regulatory Administration to establish China Merchants Financial Asset Investment Co., marking it as one of the first batch of joint-stock bank financial asset investment companies approved in the country [1] Group 1: Company Overview - China Merchants Financial Asset Investment Co. is a wholly-owned subsidiary of China Merchants Bank, registered in Shenzhen with a registered capital of 15 billion RMB, making it the financial asset investment company with the highest initial registered capital at its establishment [1] Group 2: Business Focus - The company will engage in market-oriented debt-to-equity swap business, leveraging the comprehensive operational and collaborative advantages of China Merchants Bank's multiple asset management licenses to provide integrated services of "funding + capital" [1] Group 3: Strategic Direction - China Merchants Financial Asset Investment will focus on intelligent, green, and integrated development, supporting the construction of a manufacturing power, quality power, aerospace power, transportation power, and network power [1] - The company aims to utilize long-term and patient capital advantages to promote technological innovation, industrial innovation, and assist enterprises in reducing leverage, facilitating transformation and upgrading, and fostering a virtuous cycle among technology, industry, and finance [1]

Core Viewpoint - China Merchants Bank has received official approval from the National Financial Regulatory Administration to establish its wholly-owned subsidiary, China Merchants Financial Asset Investment Co., Ltd., marking a significant step in supporting national financial reform and serving the real economy [2]. Group 1 - China Merchants Financial Investment is registered in Shenzhen with a capital of 15 billion RMB, making it the highest initial registered capital among financial asset investment companies [2]. - It is one of the first batch of joint-stock bank financial asset investment companies approved in China, following Industrial Bank and CITIC Bank [2]. - The company will focus on sectors such as technology innovation, green low-carbon industries, and the Guangdong-Hong Kong-Macao Greater Bay Area development [2]. Group 2 - The subsidiary aims to leverage the comprehensive operational and collaborative advantages of China Merchants Bank's multiple asset management licenses to provide integrated "capital + funding" services [2]. - The investment strategy will emphasize intelligent, green, and integrated development, supporting the construction of a strong manufacturing, quality, aerospace, transportation, and digital nation [3]. - The company plans to assist enterprises in reducing leverage, promoting transformation and upgrading, and fostering a virtuous cycle among technology, industry, and finance [3].